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1.
An alcoholic drink consisting of vodka, beer, and pink lemonade--hence the pink and its ability to well...you know...
yo dude i gave that girl 2 pink panty droppers and there! i was as good as in
by Shlomo Liebowitz December 12, 2006
 
2.
A mixed drink that is comprised of one fifth of cheap vodka, a case of beer and the rest pink lemonade.
Man she drank too much of that Pink Panty Droppers, she was wasted.
by Tommy D 35 October 14, 2008